State Treasurer Riley Moore today announced his Office’s Unclaimed Property Division returned more than $1.1 million worth of unclaimed property to individuals, businesses and organizations during the month of August.
“We continue to aggressively promote our unclaimed property program – which now has more than $400 million in listings in its database – and encourage everyone to visit www.WVUnclaimedProperty.gov to see if we’re holding any money for you,” Treasurer Moore said.
The Unclaimed Property Division paid out $1,158,761 worth of claims during the month of August.
The Office is coming off a record year for the program, having returned $26.8 million worth of unclaimed property during the last fiscal year – the highest ever in state history.
While the Office has been returning funds at a record pace, it’s also receiving new listings at a record pace as well. Due to legislative reforms and increased communication and outreach efforts with potential unclaimed property holders, the Office now has more than $400 million in unclaimed property listings in its database.
“Our Office continually receives unclaimed funds from holders, so even if you didn’t have anything before, keep coming back to our website to check again because you never know when we might receive something for you,” Treasurer Moore said.
Additionally, the Office is preparing to deliver more than 3,000 checks totaling roughly $4 million next month as part of the second year of the “West Virginia Cash Now” program. Recipients were notified by letter in July to expect those checks in early October.
More information about the unclaimed property program is available at www.WVUnclaimedProperty.gov.
What is Unclaimed Property?
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for one year or longer. Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. (While the title includes the word “property,” it does not however include real estate.)
West Virginia’s unclaimed property laws protect the public by ensuring money and property owed to them is returned to them, rather than remaining permanently with financial institutions, business associations, governments and other entities. The Treasurer seeks to reunite the unclaimed property, including uncashed paychecks, stocks, or safe deposit box contents, with its owner.
Nationwide, nearly 33 million people in the United States – one in every 10 – are estimated to have unclaimed property available for them to claim.
How Can I Find Unclaimed Property in My Name?
West Virginians searching for lost financial assets can go to www.WVUnclaimedProperty.gov. In addition to finding property, the website will also help you track a claim.
A demonstration of how to use the Unclaimed Property search site is available on the Treasury’s YouTube page, at: https://youtu.be/K09yQ7YNKlE.
To search for lost financial assets outside West Virginia, visit www.MissingMoney.com.